EB Watch List Update Report

Dear Members: MARKET NOTE: The market remains strong today with all of the major indexes higher. There's no denying there's a strong bid under the market but at the same time all of the major indexes are stretched. In fact the Dow is now technically overbought with stochastics in the mid 90's and a RSI above 70 and both the S&P and NASDAQ are close behind. The bulls are helped by the fact that this is one of the most bullish historical periods of the year. But we shouldn't be surprised if we see some profit taking soon and if that did happen the S&P should have strong support near 2060 which is where the 200 day moving average is at this time. To the upside the S&P has already matched the August 10 high of 2105 and if the market holds up here the next level of resistance is near 2112. Bottom line; the market is strong at a bullish time of the year, all of the major indexes are at or near overbought territory so we'll see if traders decide to continue to support the rally or if we need at least some relief to present even better opportunities. KEY EARNINGS REPORTS Companies reporting earnings today (November 3) include: ACHS, Y, ANAC, ADM, CVC, CBS, CERN, CIT, DVN, DISCA, FTR, HRS, HLF, H, K, MLM, MHFI, MOS, SLW.TO, S, TSLA, and ZG Companies reporting earnings tomorrow (November 4 include: ALB, AGN, CHK, CTSH, CSC, FB, GDDY, HSIC, LMCA, MRO, MET, MSI, NRG, PRU, QCOM, RNR, TWX, RIG and WFM ADDITIONS TO WATCH LISTS: We're going to hold continue to hold off adding any stocks today as the market is stretched at the moment. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List FLEX - Stock is up nicely on strong volume and a close above $11.79 would be bullish. Mid Cap Watch List There are no mid cap stocks on the Watch List at this time Small Cap Watch List PLAY - A little bit of profit taking today but a close back above $39.91 would be bullish. SWHC - Stock is trying to get back above both its 20 and 50 day moving averages and a close back above $18.03 would put it in good technical shape. VRA - Very nice hold and reversal on the stock and a close above $12.63 would be bullish. DELETIONS FROM OUR WATCH LISTS: There are no deletions from the Watch List today unless a Watch List stock closes below the stop loss provided. At your service, John Hopkins, EarningsBeats